Belarus is looking for South Korean investors for blockchain and fintech

Belarus are currently searching for South Korean investors for the country’s growing blockchain and fintech industry. Andrei Dapkiunas, the deputy foreign minister of Belarus, mentioned that Belarus is trying to build up relations with Korean investors who are interested in the 4th industrial revolution technologies like blockchain and artificial intelligence (AI).

Dapkiunas stated that Belarus is putting emphasis on the innovative movement on blockchain, cryptocurrency, start-up development and software production. They also had come up with legislation IT sector to follow the global trend.

Belarus and South Korea have maintained favourable relations. South Korea exports IT products, electronics, vehicles and construction equipments to Belarus and imports fertilizers, semiconductors, optical instruments, and lasers.

Dapkiunas stated that there is a potential advantages between Belarus and Korea for the new project but we feel that our capability is not obvious enough. Belarus expects cooperation with Korea in aerospace, artificial intelligence, biotechnologies, electric and self-driving vehicles, robotics and electronics, nanomaterials and digital economy.

Belarus is showing very concrete endeavor and considering it as the priority to have a leading digital technology as it can affect the economy, public administration and social service.

Vladimir Andreichenko, the chairman of the Belarusian House of Representatives, stated that the country was finding a way to promote digital economy for a session of the Parliamentary Assembly of the Organization for Security and Co-operation in Europe. In March Belarus officially announced the cryptocurrency accounting standards through the Ministry of Finance. It includes the accounting purpose of tokens and how to categorize them based on their usage.